Optimism OP USDT is trading within a defined range while respecting supportive demand areas and Fibonacci retracements. Provided the above support levels on the lower timeframes continue to withstand selling pressure, a neutral to bullish bias remains in place for OP over the near term.
4 Hour Timeframe
On the 4 hour chart for Optimism OP USDT , we can observe price action trading within the defined support zone of 2.985 – 3.031 and resistance zone of 3.418 – 3.530. This has created a range where consolidation is currently underway.
Support and Resistance Levels
S / R Type | High | Low |
Support Zone | 2.985 | 3.031 |
Resistance Zone | 3.418 | 3.530 |
Fibonacci Retracement Levels
Crucial Fibonacci retracement levels lying within the range that could indicate potential bounce areas are 3.266, 3.199, 3.131 and 3.037.
0.382 | 3.266 |
0.50 | 3.199 |
0.618 | 3.131 |
0.786 | 3.037 |
0.882 | 2.984 |
Demand Zone
The demand zone between 3.102 – 3.041 may attract buying if revisited.
Zone Number | High | Low |
Demand Zone | 3.102 | 3.041 |
Fair Value Gaps / Imbalances
There is also a bullish fair value gap signaled from 3.160 – 3.102 that points to upside momentum potential in this window.
Gap Number | High | Low |
Bullish FVG | 3.160 | 3.102 |
1 Hour Timeframe
Zooming into the 1 hour chart, we notice support has formed at 3.165 – 3.234 just below the current price.
Support and Resistance Levels
Resistance is seen from 3.446 – 3.516 above.
S / R Type | High | Low |
Support Zone | 3.165 | 3.234 |
Resistance Zone | 3.446 | 3.516 |
Fibonacci Retracement Levels
Key Fibonacci retracements that will be important to hold as support are 3.396, 3.370, 3.345 and 3.307.
0.382 | 3.396 |
0.50 | 3.370 |
0.618 | 3.345 |
0.786 | 3.307 |
0.882 | 3.287 |
Demand Zone
The demand zone spanning 3.299 – 3.260 provides an area buyers may step in.
Zone Number | High | Low |
Demand Zone | 3.299 | 3.260 |
Fair Value Gaps / Imbalances
The bullish fair value gap ranging from 3.299 – 3.345 signals momentum could turn higher if tested.
Gap Number | High | Low |
Bullish FVG | 3.299 | 3.345 |